Here we go again. I promised myself I would not blog about the financial crisis again until there was some light at the end of the tunnel. Well, there is light, but it appears to be a freight train. I feel like the alarmist town crier, hustling newspapers with bad news. But unfortunately folks, we have had nothing but bad financial news lately.
Popularity: 25% [?]
I have a question for all you gamers out there. I am thinking about buying a game system for Christmas. I am from the Atari generation. Pac-man. Space Invaders. Asteroids. Missile Command. Pitfall. I wore out at least a dozen joy sticks in my day. I dabbled with the Nintendo in the 90’s (with my son), but am unfamiliar with today’s systems.
Popularity: 26% [?]
With the dizzying array of bad news in the financial world, it can sometimes be overwhelming. Over the past several months I have attempted to inform you of the events in an easy to understand, straight forward way. However, sometimes complex issues are better understood when explained from a personal perspective. I recently came across a blog post by Aldon Hayes of Orient Lodge. Aldon tells his very personal story in:
My Role in the Collapse of Lehman Brothers
Unfortunately, his story is not unique. It is happening all across our country. You may know someone who is or perhaps you are, in a similar situation. When reading his article, I felt like it put a human face to the numbers. I recommend checking it out, as it is a good read.
John
Popularity: 21% [?]
In what seems to have become common place, we had another weekend of nasty financial news. First up, the announcement by Lehman Brothers that it has filed for Chapter 11 bankruptcy. The 158 year old company was unable to work out a deal to be purchased. In a separate move, Bank of America agreed to purchase Merrill Lynch, saving it from a similar fate. Add these failures to the collapse of Bear Stearn’s and you have 3 of the 5 largest US investment banks failing in 2008. Not to mention the government bail out of Freddie Mac and Fannie Mae. And as if that were not enough, AIG the worlds largest insurance company, is asking the Federal Reserve for “emergency funding”.
Popularity: 22% [?]
I can’t believe summer is already over. Well officially it’s not over till the 21st, but in my book it ended Labor Day weekend. Even though the temperature here in beautiful Virginia Beach, Virginia is still in the 90’s. It went fast and we had a blast!
Popularity: 21% [?]
By now I’m sure you have heard about the latest unprecedented government move to take over Freddie Mac and Fannie Mae. Treasury Secretary Henry Paulson announced the news on Sunday. It is estimated that 50% of the 5.4 trillion in US mortgages are held by Freddie and Fannie. Many experts agree that they are too big and important to fail. So here we go again with another tax payer bail out.
Popularity: 22% [?]
Last summer my wife planted Basil in our garden for the first time. We sort of thought it would peter-out and be taken over by weeds. Boy were we wrong! Basil tree anyone?
Popularity: 20% [?]
As I write this post, Tropical Storm Hanna is passing overhead. We are experiencing 40-60 MPH wind gusts and heavy rain on and off. My once beautiful Elephant Ears and Banana Trees are taking a beating! I just lost power briefly. Luckily, the storm has almost passed through the area.
Popularity: 19% [?]
